Hudson Index Finds Worker Confidence Down

Hiring expectations, personal finances and job satisfaction concerns, among a number of other factors, caused confidence among accounting and finance workers to dip in October, according to the Hudson Employment Index.

Workers in the industry showed slightly decreased expectations for hiring activity compared to September, with one third indicating their companies would be hiring in the coming months. More accounting and finance workers also expected their company to lay off workers, up from 19 percent in September, to 21 percent. However, just 17 percent were worried about losing their job, down five points from September.

Job satisfaction among accounting and finance workers also decreased in October, with 73 percent of workers indicating they were happy with their current job, down slightly from the previous month. Additionally, sector workers were less optimistic about their personal finances in October with 41 percent citing their financial situation was improving, down six points from a month ago. The number of workers who responded that their situation was getting worse also increased slightly, to 41 percent from September.

The index is compiled each month by an independent research firm and is based upon telephone interviews and survey responses from approximately 9,000 U.S. workers.

Overall U.S. worker confidence rose 3.7 points, as the national index rose above its base of 100, to 100.5.

"After the utter devastation of Hurricane Katrina, it's reassuring to see worker confidence starting to rebuild as hiring levels have returned to a normal level," said Steve Wolfe, executive vice president of Hudson-North America, in a statement. "However, employers need to recognize the precarious state of their workforces' finances. With their checkbooks still reeling from off-the-chart energy prices, workers have high heating bills and the holidays on the horizon."

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